https://www.taxtmi.com/caselaws?id=67713 The Tribunal dismissed the Department's appeal, upholding the AAC's decision to allow the bad debt claim of Rs. 9,321 for the asst. yr. 1977-78. It was determined that legal proceedings were not necessary before writing off the debt as bad, considering the long-standing nature of the debts, unsuccessful recovery efforts, and the closure of the firm. Additionally, the Tribunal agreed with the deletion of Rs. 1,152 interest income, as it was deemed unwarranted in light of the allowed bad debt claim. en-us Tue, 20 Mar 1979 00:00:00 +0530 Mon, 14 Mar 2011 11:34:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67713 The Tribunal dismissed the Department's appeal, upholding the AAC's decision to allow the bad debt claim of Rs. 9,321 for the asst. yr. 1977-78. It was determined that legal proceedings were not necessary before writing off the debt as bad, considering the long-standing nature of the debts, unsuccessful recovery efforts, and the closure of the firm. Additionally, the Tribunal agreed with the deletion of Rs. 1,152 interest income, as it was deemed unwarranted in light of the allowed bad debt claim. Case-Laws Income Tax Tue, 20 Mar 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67713